Yen in the firing line this week – Scotiabank

By FXStreet FXStreet (Guatemala) – Eric Theoret, CFA, CMT
FX Strategist at Scotiabank explained that JPY remains most vulnerable
to sentiment in the current environment.

Key Quotes:

“With risk of further weakness in the event of a stabilization in oil prices brought about by greater
cooperation among oil-producing nations. We maintain a focus on the BoJ policy decision later this week, and underscore the divergence between
policymakers’ official comments with a bias to hold and unnamed officials’ calls for greater monetary accommodation.”

“Risk reversals underscore a dramatic shift in demand for protection against movement in USD/JPY, with the one week measure hinting to demand for protection
against upside risk.”
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Source:: FX Street